When communicating online or investing with any professional, make sure you know who you’re dealing with. Imposters might link to sites like BrokerCheck from phishing or similar scam websites, or through social media , trying to steal your personal information or your money. Please contact FINRA with any concerns.
THE [CUSTOMERS] CLAIMED LOSSES OF $34,042,
RESULTING FROM OPTIONS TRADING IN THEIR ACCOUNT. SPECIFICALLY,
THE [CUSTOMERS] MAINTAINED THAT THE OPTIONS TRADING WAS UNSUITABLE
AND THAT THEY WERE TOLD THAT THEY WOULD NOT LOSE MORE THAN
$2,500. THE [CUSTOMERS] ALSO MAINTAINED THAT ALTHOUGH THEY HAD BEEN
APPROVED FOR COVERED OPTIONS WRITING, THEY HAD NOT BEEN
APPROVED FOR UNCOVERED WRITING.
Damage Amount Requested
$34,042.00
Settlement Amount
$25,000.00
Broker Comment
THIS CASE WAS SETTLED FOR $25,000 TO AVOID THE
COST AND RISK OF ARBITRATION . THE FINANCIAL CONSULTANT DENIES
THAT HE MADE ANY GUARANTEE OF LOSS LIMIT TO THE [CUSTOMERS] AND THAT
THEY WERE AWARE OF AND AUTHORIZED EVERY TRADE IN THEIR ACCOUNT.
NOT PROVIDED
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.